[–] MarauderShields 0 points 3 points (+3|-0) ago 

New metrics being suggested imply that measuring consumption rather than income, expenditures and savings are a more valid measurement of "wealth". I'll be the first to call bullshit on this.

In the first place, consumption, in this approach makes no sense unless separating it clearly from types of spending that include spending that incurrs debt. Maybe they did that, but i don't see any indication of that. It just crows about equivalent gains that people get to consumption thank to the welfare state.

Secondly, this fails to account for the intergenerational effects of wealth transfer and how this encourages and promotes upward momentum for families that plan. Under this new measure, everyone lives and dies, then that's it. In reality people work and save and plan for the next generation. This is another attempt to tell you how good you've got it in this new normal of every atomistic individual for themselves.

Like I said. Bullshit.

Interesting read, but dangerous fodder for the poorly or ill informed.

[–] aileron_ron ago 

And I turn lead into gold.